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  • Third-party revenues


  • Related-party revenues


  • Total revenues


  • Profit before tax


  • Corporate income tax paid


  • Corporate income tax accrued


  • Stated capital


  • Accumulated earnings


  • Tangible assets


  • Other payments to governments

Shell's footprint

Shell has been present in Barbados since 1982. In 2017, Shell acquired Chevron Trinidad and Tobago Resources SRL (a Barbados-incorporated entity, renamed Shell Trinidad and Tobago Resources SRL). Shell Trinidad and Tobago Resources SRL holds an interest in several production-sharing contracts in Trinidad and Tobago (see Trinidad and Tobago for more details). In 2022, through a new Barbados branch, Shell acquired a participating interest in exploration licences for two deep-water blocks off the south-east coast of Barbados.

Country financial analysis

The statutory corporate income tax rate in Barbados varies from 0% to 5.5%, depending on the type of business activity and level of income in the entity. Petroleum profits are taxed under a separate regime and subject to a profit tax of up to 30%. Profits from the operations of Shell Trinidad and Tobago Resources SRL in Trinidad and Tobago are not taxable in Barbados. The loss reported in 2022 is related to the new branch and the cost of exploration activities. The reduction in stated capital, compared with 2021, was because of cumulative currency translation differences and share premium repayments.

A branch is an office or business presence in a location other than where the corporate entity is established.
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Corporate income tax
This is a direct tax imposed on companies’ profits. It is sometimes levied at a national level but can also be levied on a state or local basis.
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Production-sharing contracts or concessions
A production-sharing contract is a contractual arrangement between the holders of a resource, typically a country’s government, and a resource extraction company, concerning how much oil or gas each party would receive. The company bears the mineral and financial risk of the initiative. It explores, develops and, if successful, manages production. Costs are recovered through the sale of oil or gas and what is left over is split depending on the terms of the contract.
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Stated capital
This information is sourced from local statutory accounts and is the amount of money invested in return for shares. The OECD rules require aggregated data, including for stated capital. This means that when a holding company invests in a subsidiary, which then invests in another subsidiary, all within the same country, each of those investments is counted and aggregated.
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